After an extensive audit by HM Revenue & Customers, tech giant Apple has agreed to pay back its multi-million-pound tax bill.
The tax payable back to HMRC totals at £136m after being revealed in the accounts of Apple Europe, which reported the payment of additional tax on Apple’s existing one, is reflective of the company’s activity increase.
The multi-million-pound figure covers back-payments from the company in the years up to 2015 and Apple has said the payment is including interest on unpaid tax. Furthermore, Apple said that the additional payment of tax and interest reflects the increase in activity the company has had and that in the future the income tax payments are only set to increase.
In a statement, Apple said: “We know the important role that tax payments play in society. Apple pays all that we owe according to tax laws and local customs in the countries where we operate,”
“As a multinational business and the largest taxpayer in the world, Apple is regularly audited by tax authorities around the world. HMRC recently concluded a multiyear audit of our UK accounts and the settlement we reached with HMRC is reflected in our recently filed accounts.”
Paying this extra tax bill is the latest claim has coughed up too, after last year when the tech giant agreed to pay the Irish Government a much larger tax bill it owed of up to a maximum of €13bn in 2018. Additionally, the tax repayment adds to list of claims against Apple after the company admitted slowing down its iPhone’s just after Christmas, which led to uproar from the public.
Though the company has agreed to pay the owed tax, HMRC will not reveal the details of the agreement as a standard practice similar to the £130m settlement the organisation had with Google three years ago, which took six years to negotiate.
A spokesman for HMRC said: “We do not comment on the tax affairs of individual companies. Multinational companies must pay all taxes due and we don’t settle for anything less.”